Binance Coin BNB Price April 5, 2023

BNBUSDT

On April 3, the bulls stepped in and bought aggressively when BNB fell below the crucial support at $306, which is evident from the long tail on the candlestick.

The bulls are now attempting to reinforce their position by pushing the price above the resistance at $318. If they succeed, it may indicate that the corrective phase has come to an end, and BNB/USDT could potentially rise to $330 and then $338, which is a strong resistance level.

However, if the price fails to surpass the hurdle at $318, it may suggest that the bears are taking advantage of any minor rallies to sell. This could pull the pair towards the 200-day SMA at $291, which is expected to provide robust support.